In a growing number of U.S. markets, luxury real estate is no longer a niche—it’s the norm. According to Realtor.com’s March 2026 Luxury Housing Report, 13 markets across the country now qualify as “pure luxury,” meaning more than half of all homes for sale are priced at $1 million or more. In some cases, that share is even higher, with nearly every listing in Nantucket, Massachusetts—99 percent—now clearing the seven-figure mark. Nationwide, for comparison, just 13.1 percent of listings are priced above $1 million.

While the broader luxury market has cooled slightly compared to last year, these high-end pockets are playing by a different set of rules. Limited inventory and strong demand—especially in scenic, lifestyle-driven destinations—continue to push prices higher. “These are places where luxury isn’t the top of the market—it is the market,” said Danielle Hale, chief economist at Realtor.com.

Most of the markets on the list are well-known resort and second-home destinations. The island of Nantucket leads by a wide margin, followed by Vineyard Haven, Massachusetts, on Martha’s Vineyard, where 90 percent of homes are priced above $1 million, and Jackson, Wyoming, at 68 percent. Coastal California markets—including Santa Barbara, Napa, and Santa Cruz—also rank among the priciest.

Then there’s the outlier: Petoskey, Michigan. This charming town on Lake Michigan has emerged as a surprising luxury hotspot, with 53 percent of listings now surpassing $1 million. Unlike the typical coastal and mountain retreats, Petoskey demonstrates how the allure of scenic lifestyle-focused destinations is driving demand—and prices—into the seven-figure range in less expected places.

Nationally, the entry point for luxury—roughly the top 10 percent of listings—rose to about $1.25 million in March from the previous month, though it remains slightly below last year’s level. Even as the broader market cools, in the country’s most exclusive destinations, high prices aren’t the exception—they’re the expectation.

At the very top end, the gap between markets becomes even more dramatic. Nationally, the most expensive 1 percent of homes start around $5.75 million. In the Aspen area, that threshold jumps to $59.2 million. In Jackson, it’s about $39.5 million, while Santa Barbara reaches roughly $38.6 million. Even Nantucket, already one of the priciest markets in the country, tops out around $25.8 million for its most elite properties. Put simply, the ceiling for luxury real estate depends on where you are.

Check out the full ranking below: